DDC Signs Shipping Deal

The
Diamond Dealers Club of New York has signed an agreement
with shipping company TransGuardian that will allow DDC members to ship
packages of diamonds and jewelry at preferred rates.

The
agreement, which will complement the DDC’s new secure online trading platform,
will include a credit risk insurance policy from TransGuardian for transactions
managed through the DDC’s Bonded Trading System. TransGuardian will also assist
the DDC in setting up a Patriot Act Compliance Secure Trading Zone, which will
include online Restricted Person Screening, which checks business partners
against worldwide governmental anti-money laundering and anti-terrorism
checklists.

In
addition, TransGuardian will set up a package-drop off and receiving kiosk near
the DDC entrance at 580 Fifth Avenue, where members will be able to log in and
generate shipping labels with insurance. It will also have daily pickups by the
U.S. Postal Service, FedEx, and UPS.

“With
our online trading platform we are enabling members from around the country to
trade in diamonds 24 hours a day, and now, with the new shipping service, they
will be able to complete the transaction, moving the
diamonds in a safe and secure manner,” said Moshe Mosbacher, DDC president, in
a statement.

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